Allwyn completes $1.5 billion deal to acquire majority stake in PrizePicks

0 Views

Gaming agency Allwyn’s deal to amass the bulk stake in fantasy sports activities operator PrizePicks has been accomplished, closing at $1.533 billion.

Allwyn, greatest recognized for its lottery providers, has finalized the deal to acquire PrizePicks, the main fantasy sports activities operator within the US, at a 62.3% majority stake. The closing deal quantity is $1.533 billion, excluding performance-based payouts and any post-close changes.

Allwyn, the Switzerland-based "lottery-led gaming leisure firm," has introduced it has closed its beforehand introduced deal to purchase a majority stake in DFS/prediction market operator PrizePicks for ~$1.5B (not together with "performance-based earnouts"). pic.twitter.com/8COM0oca4Y

— Geoff Zochodne (@GeoffZochodne) January 16, 2026

The deal represents a push from Allwyn to broaden into informal leisure, with PrizePicks recognized for reacting rapidly to market adjustments and increasing into new territories. The deal was first introduced on September 22, 2025, swiftly adopted by PrizePicks’ announcement of entering the prediction market sector in November.

“We’re excited to help and take part within the subsequent part of PrizePicks’ progress,” mentioned Robert Chvatal, Chief Government Officer of Allwyn. “This funding advances Allwyn’s technique to construct a diversified international leisure platform and considerably strengthens our presence in the USA. I stay up for working intently with Mike and the proficient PrizePicks group to ship much more compelling experiences for followers world wide.”

PrizePicks and Allwyn goal for progress in 2026

In addition to expanding into more American markets all through 2025, PrizePicks spent final yr growing new options. That included Group Picks, the place customers can play based mostly on group efficiency moderately than simply particular person, and Tradition Picks, the place customers can predict occasions associated to tradition and leisure in addition to sport.

“Right this moment marks a defining second for PrizePicks. Allwyn’s international scale, operational experience, and long-term strategy make them an excellent companion as we proceed to develop and evolve,” mentioned Mike Ybarra, Chief Government Officer of PrizePicks. “Collectively, we’ll construct on our sturdy momentum and ship modern merchandise that deepen engagement with our rising group of gamers.”

The messaging from each the PrizePicks and Allwyn counsel that 2026 will likely be centered on extra progress for each manufacturers, with point out of utilizing “their mixed strengths to speed up product innovation”.

“From the start, we constructed PrizePicks by placing our group first and specializing in delivering an industry-leading member expertise,” mentioned Adam Wexler, Founder and PrizePicks Board Member. “As we regarded forward to the following part of PrizePicks’ progress, it grew to become clear that Allwyn shares our customer-first philosophy and our imaginative and prescient for the way forward for leisure. I couldn’t be extra excited to collaborate with the Allwyn management group as PrizePicks continues to innovate on this planet of sports activities and tradition predictions.”

Featured picture: Allwyn

The submit Allwyn completes $1.5 billion deal to acquire majority stake in PrizePicks appeared first on ReadWrite.

Trending Merchandise